Pique AG shows a balance of 241,140 in the Accounts Receivable account on December 31, 2019. The

Question:

Pique AG shows a balance of €241,140 in the account on December 31, 2019. The balance consists of the following.
Installment accounts due in 2020......................................................€23,000
Installment accounts due after 2020 (within the operating cycle)..................34,000
Overpayments to creditors.................................................................2,640
Due from regular customers, of which €40,000 represents accounts pledged as security for a bank loan...................................................................................89,000
Advances to employees...................................................................1,500
Advance to subsidiary company (made in 2017)....................................91,000
Instructions
Illustrate how the information should be shown on the statement of financial position of Pique AG on December 31, 2019.
Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...